Arlington, TX - Dec 5, 2023 - Faris Lee Investments, a leading commercial real estate investment advisory firm, announces the successful completion of a groundbreaking transaction involving the fee simple interest in a freestanding Dave's Hot Chicken property in the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (MSA).

Recently constructed in 2022, this investment opportunity features Dave's Hot Chicken's latest 'drive-thru' prototype, making it an attractive asset for investors. At the close of escrow, the tenant committed to a brand-new, 15-year Absolute Triple Net (NNN) lease, with 10% rent increases every five years, providing a secure, long-term investment with inflation-hedging rental increases for the purchaser.

This drive-thru Dave's Hot Chicken property fronts South Cooper Street, which is a dynamic Texas thoroughfare with approximately 60,000 vehicles per day (VPD). The location also benefits from close access to the Interstate 20 (+/- 187,000 VPD) entrance and exit, bringing in customers from across the region. Additionally, there is fantastic retail synergy created by the national retailers surrounding the property, including but not limited to: Walmart Supercenter, Home Depot, Kroger, Hobby Lobby, and Ashley Home Store.

Dave's Hot Chicken, honored as 'America's Fastest Growing Restaurant Chain' by Technomic, has achieved extraordinary success with a 156% total sales growth in 2022 year over year. The celebrity-backed brand has 700+ locations in the U.S. and international development pipeline.

In the marketing strategy, the team emphasized the brand strength of Dave's Hot Chicken, educated the buyer pool on the immense growth of the Dallas-Fort Worth-Arlington market in Texas, and highlighted the outstanding sales performance the franchisee has achieved thus far.

In result, the transaction closed at the full asking price setting a national record for the brand's CAP rate nationwide. The buyer, an all-cash purchaser, facilitated a quick and efficient escrow period of only 32 days. Furthermore, Faris Lee successfully secured the California-based buyer within an impressive 14 days of launching the property on the market.

About Faris Lee Investments:
Faris Lee Investments is a leading national retail investment firm founded in 1996 and is based in Irvine, California. The firm specializes in commercial real estate investment sales, brokerage, and advisory services. In addition, the firm provides a national marketing platform of properties for sale, asset appraisal, property valuation, debt structuring, negotiation, market research, and analysis services. Faris Lee combines underwriting and research that exceeds industry standards with a marketing strategy to transform investment potential, enhance value and provide their clients the competitive advantage needed when making investment decisions. The firm also serves as institutional advisors in the areas of acquisitions and dispositions, merchant banking, distressed asset disposition, private equity, and corporate sale-leaseback. For more information, visit www.farislee.com